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...Revenues at the private bank fell 17 per cent in 2023 to $2.3bn, and totalled $7.1bn across Citi’s wealth management division, down 5 per cent year on year....
...The LSB’s call for evidence runs from May 2 to July 14. Its findings are expected later this year....
...On Monday, the heads of those different business units are expected to tell their staff in Citi’s New York headquarters and elsewhere who will fill the next layers of leadership....
...As a result, new employers would face less pressure to buy old contracts, making it easier for smaller groups to compete for staff....
...Bird himself has drawn ire for telling staff earlier this year that bonuses would be paid for “performing colleagues”, while his total pay increased to £2.1mn from £1.7mn the previous year....
...Later this month, the next level down, some 2,500 people, will get their marching orders....
...Being in New York is as much for his staff as his artists and collectors, he says....
...While the minimum wage for regular Hongkongers increased by 6.7 per cent, domestic helpers’ wages rose just 2.2 per cent, Fadwu said. It calls for a wage rise of almost one-third to HK$6,228....
...On average US companies stipulate 2.56 days in the office per week, according to the new Flex Index report, halfway between what employers hope for (2.75 days), and the 2.21 days employees would like....
...WhatsApp to Stephen: I’ve got Jane working on invitations....
...Staff at BI are furious at their parent company’s decision to order a review of two stories alleging plagiarism by Oxman, a designer and former MIT professor....
...“Even so, it has been striking how often the Israeli army has reached for 2,000lb bombs.”...
...Deutsche Bank has agreed to pay up to $75mn to settle a lawsuit brought by the pseudonymous Jane Doe who alleged the lender had benefited from human trafficking by retaining Jeffrey Epstein as a client....
...Goldman has laid off about 3,400 employees, or about 7 per cent of its overall staff, this year....
...Parekh added that the backlog was also a problem for employers as, by the time a claim is heard, staff at the company involved may have moved on....
...The weakness across several of its businesses led the bank to announce plans last month to cut as many as 5,000 staff....
...totalling around 2,409 staff hours costing around £1.6mn....
...As Bloomberg says: The more-than 2,000 employee powerhouse based in lower Manhattan is known among peers for its obsession with risk and preference for stealth....
...Here’s why Jane Fraser wants to split it into three units. 2....
...part of the review conducted by Jane Mulcahy KC....
...Sales fell 2 per cent to £12bn with those at supermarket Waitrose, which accounted for £7bn of the total, down 3 per cent....
...“There is scope for reducing compliance requirements upon business in some aspects of employment law, making it better for employers and their staff,” she added....
...The digital bank founded and led by Anne Boden has grown rapidly from 70 employees in 2017 to around 2,000 staff. It reported its first annual profit in July after it broke into the mortgage market....
...Additional reporting by Siddharth Venkataramakrishnan and Jane Croft...
...McKinsey to cut up to 2,000 jobs McKinsey could cull as many as 2,000 back-office staff as the global consulting firm embarks on one of the largest rounds of redundancies in its history....
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